Business and Finance Business and Finance
Fri, May 15, 2009
Thu, May 14, 2009
Wed, May 13, 2009
Tue, May 12, 2009
Mon, May 11, 2009
Fri, May 8, 2009
Thu, May 7, 2009
Wed, May 6, 2009
Fri, May 1, 2009
Thu, April 16, 2009
Wed, April 15, 2009
Tue, April 14, 2009
Mon, April 13, 2009
Fri, April 10, 2009
Thu, April 9, 2009
Wed, April 8, 2009
Tue, April 7, 2009
Mon, April 6, 2009
Sun, April 5, 2009
Fri, April 3, 2009
Thu, April 2, 2009
Wed, April 1, 2009
Tue, March 31, 2009
Mon, March 30, 2009
Sun, March 29, 2009
Fri, March 27, 2009
Thu, March 26, 2009

Hana Mining Ltd.: Hana Mining Intersects 1.47% Cu and 36.5 g/t Ag Over 10.0 Meters Including 3.07% Cu and 75.9 g/t Ag Over 3.0


//business-finance.news-articles.net/content/200 .. -including-3-07-cu-and-75-9-g-t-ag-over-3-0.html
Published in Business and Finance on Tuesday, April 14th 2009 at 9:09 GMT, Last Modified on 2009-04-14 09:11:26 by Market Wire   Print publication without navigation


VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG)(FRANKFURT:4LH) (the "Company") is pleased to report new results at its sediment-hosted Ghanzi Copper-Silver Project in Botswana. Nine diamond drill holes, HA-72-D to HA-80-D, were drilled along the north limb of the Banana Zone. Eight of these holes intersected copper-silver mineralization and the strike length along the north limb has been extended an additional 800 meters. In total, drilling by Hana has now extended mineralization along a 3,000 meter strike length.

Highlights of results for the new holes are as follows:



----------------------------------------------------------------------------
Core
Hole From To Length TCu SCu Ag
Number (m) (m) (m) (%) (%) (g/t)
----------------------------------------------------------------------------
HA-75-D 122 138 16 1.09 0.09 24.7
----------------------------------------------------------------------------
including 128 138 10 1.47 0.14 36.5
----------------------------------------------------------------------------
and 129 130.4 1.4 1.49 0.19 31.0
----------------------------------------------------------------------------
and 134 137 3 3.07 0.73 75.9
----------------------------------------------------------------------------
HA-72-D 60 67 7 0.78 0.29 11.7
----------------------------------------------------------------------------
including 62 65 3 1.08 0.29 17.2
----------------------------------------------------------------------------
and 63 64 1 1.60 0.47 28.1
----------------------------------------------------------------------------
HA-73-D 112.6 117.1 4.5 1.73 0.20 28.6
----------------------------------------------------------------------------
HA-74-D 124.5 127 2.5 0.93 0.08 11.8
----------------------------------------------------------------------------
including 124.5 126 1.5 1.31 0.11 16.3
----------------------------------------------------------------------------
and 124.5 125 0.5 2.34 0.17 28.4
----------------------------------------------------------------------------
HA-77-D 90 94 4 0.95 0.14 24.1
----------------------------------------------------------------------------
including 92 93 1 1.86 0.26 53.5
----------------------------------------------------------------------------
and 92 94 2 1.32 0.19 35.7
----------------------------------------------------------------------------
HA-78-D 150 156 6 0.66 0.06 10.4
----------------------------------------------------------------------------
including 158 160 2 1.11 0.10 27.3
----------------------------------------------------------------------------
and 159 160 1 1.47 0.13 38.8
----------------------------------------------------------------------------
HA-79-D 147 165 18 0.44 0.04 5.1
----------------------------------------------------------------------------
including 147 148 1 1.27 0.01 5.5
----------------------------------------------------------------------------
and 156 158 2 1.16 0.11 17.2
----------------------------------------------------------------------------
and 157 158 1 1.54 0.14 24.1
----------------------------------------------------------------------------
and 164 165 1 1.08 0.18 20.1
----------------------------------------------------------------------------
HA-80-D 85 91 6 0.70 0.09 8.8
----------------------------------------------------------------------------
including 86 87 1 1.21 0.16 19.2
----------------------------------------------------------------------------
and 90 91 1 1.60 0.18 17.1
----------------------------------------------------------------------------



Intercepts reported are intersection length and are estimated to be 80% or more of true width. Drill sections and a 3D model can be viewed at the following link [ http://www.corebox.net/properties/ghanzi/ ] or by visiting the Company's website at [ www.hanamining.com ].

Holes HA-72, 73 and 76-D were designed to fill in a gap along the north limb of the Banana Zone. Holes HA-72 and 73-D were drilled on the same section and HA-76-D was collared 200 meters along strike to the southwest. The latter was drilled along a well oxidized barren fault zone. Holes HA-74, 75 and 77-to 80-D were designed to test strike continuity to the southwest at 200 meter intervals. Drilling by Hana has demonstrated continuity in mineralization along a 3,000 meter continuous strike length in this part of the north limb at the Banana Zone. Drilling by Anglo American in the early 1990's delineated mineralization along an additional 300 meters to the northeast for a total mineralized strike length of 3,300 meters. Results for 7 more holes drilled along an additional 1,800 meter strike length along the north limb are pending. With these results the north limb will have been explored over a 5,100 meter strike length.

The north and south limbs of the Banana Zone are each 30 kilometers in length. To date Hana has tested 9.1 kilometers along the north limb and 4.8 kilometers along the south limb. All mineralization intersected to date is open along strike and down dip. A total of 46 kilometers remain untested at the Banana Zone.

To view the topographical map, please click on the following link:

[ http://media3.marketwire.com/docs/ghanzia.jpg ]

Property

The 5 original license blocks have been reduced by 50% as required by Botswana law and are in good standing for two years. The new area now comprises 2,200 km2 and is illustrated in the figure above. The retained area includes all of the zones described previously as well as more than 600 kilometers of potential strike length while the relinquished ground represents barren footwall sandstones with little exploration value.

Quality Assurance/Quality Control

Hana has implemented an industry-standard QA/QC program. Drill core is logged, split by sawing and sampled at site. Samples are bagged, labeled, sealed and packed in sealed containers and shipped to Scientific Services Laboratory in Cape Town, South Africa. Standards and blanks are inserted into the sample stream.

For details on current drilling activities refer to attached maps and links ([ www.hanamining.com/s/Ghanzi.asp?ReportID=303741 ]).

To view the drill hole plan, please click on the following link:

[ http://media3.marketwire.com/docs/bananaa.jpg ]

Other Business

The Company also announces that it has agreed to settle an aggregate debt of $12,500 owed to certain creditors by the issuance of 52,085 of its common shares at a deemed price of $0.24 per share on a post-share consolidation basis, being the closing price of the Company's shares on March 31, 2009. All shares to be issued in connection with the proposed debt settlement will be subject to a 24 month resale restriction.

The proposed debt settlement is subject to the approval of the TSX Venture Exchange.

About Hana Mining

Hana Mining is a junior exploration company seeking to acquire, explore and develop highly prospective precious, base metal and other mineral projects worldwide with emphasis in southern Africa. The Company has the right to acquire a 70% controlling interest in the Ghanzi Copper-Silver Project. The property consists of five license blocks covering 2,200 square kilometers that contain widespread sediment-hosted copper-silver mineralization.

Joseph Arengi, M. Sc., P. Geo., Vice President of Exploration for Hana Mining is the qualified person as defined in NI 43-101.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Publication Contributing Sources

Similar Business and Finance Publications